Kuok Khoon Hong, chairman and CEO of palm oil giant Wilmar International, raised his stake in the company ahead of the separate listing of its China-based subsidiary on the Shenzhen Stock Exchange, likely to be later this month.

On Sept 24, Kuok, through three separate entities he controls — HPRY Holdings, Longhlin Asia and Hong Lee Holdings — bought 50,500 shares at $4.30 each. That same day, the group also announced that Yihai Kerry Arawana Holdings (YKA), the China-based subsidiary, has priced its IPO at RMB25.70 ($5.16) per share. Wilmar plans to sell around 10% of YKA.

On Sept 28, Kuok bought another 94,700 Wilmar shares at $4.40 each, again using the same three entities. Kuok now holds a total stake of nearly 797.85 million shares, equivalent to 12.55% of the company.

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